Curefoods, which is backed by Accel and Chiratae Ventures has fully acquired Yumlane Pizza and its proprietary technology for an undisclosed amount, according to media reports.
The acquisition of cloud kitchen franchise rights by Curefoods is expected to help them expand their reach through Yumlane’s network of cloud kitchens. Yumlane, founded in March 2016, initially focused on pizza making and later ventured into the cloud kitchen business.
Yumlane have a distribution network in over 15 cities and have served various brands such as Barbeque Nation, Frozen Bottle and Reliance Retail’s joint venture 7-11. Yumlane has received funding from investors like Binny Bansal, Anupam Mittal, Orios Ventures and RB Investments.
Curefoods also raised Rs 200 crore (about USD 36 million) in a funding round led by Binny Bansal’s venture capital firm Three State Ventures, with participation from IronPillar, Chiratae Ventures, ASK Finance and Winter Capital.